Question 1

What is Cranberry Federal Credit Union (Cranberry FCU)?

Accepted Answer

Cranberry Federal Credit Union (Cranberry FCU), formerly known as Plymouth County Teachers Federal Credit Union (PCT Federal Credit Union), is a federally chartered, member-owned community credit union serving Plymouth County, Massachusetts. With approximately $64.5 million in total assets and over 3,400 members, Cranberry FCU provides a full range of financial services to the Plymouth County community.

The credit union operates as a not-for-profit cooperative financial institution, focusing on member benefits and community reinvestment. Cranberry FCU is classified as "Well Capitalized" by the NCUA with a net worth ratio of 7.84%.

Question 2

When was Cranberry Federal Credit Union (Cranberry FCU) founded?

Accepted Answer

Cranberry Federal Credit Union was founded in 1962 by a group of teachers in Plymouth County, Massachusetts. Originally established as Plymouth County Teachers Federal Credit Union, the institution was created to serve educators and school staff who needed access to affordable financial services and member-to-member lending when traditional banks were unwilling to provide such services.

The credit union's founding was rooted in the values of education, trust, and a commitment to helping others succeed. Over six decades, the institution has evolved from serving primarily teachers to becoming a community credit union that serves the broader Plymouth County area while maintaining its original cooperative principles and educational focus.

Question 3

Where is Cranberry Federal Credit Union (Cranberry FCU) headquartered?

Accepted Answer

Cranberry Federal Credit Union is headquartered at 2203 Cranberry Highway in West Wareham, Massachusetts. The main office mailing address is PO Box 189, West Wareham, MA 02576.

The branch offers both drive-up and lobby services. Operating hours are Monday through Friday from 8:00 a.m. to 4:30 p.m. (drive-up) and 9:00 a.m. to 4:30 p.m. (lobby), with Saturday hours from 8:30 a.m. to 12:00 p.m. (drive-up) and 9:00 a.m. to 12:00 p.m. (lobby).

Question 4

Where does Cranberry Federal Credit Union (Cranberry FCU) operate?

Accepted Answer

Cranberry Federal Credit Union operates as a community credit union serving Plymouth County, Massachusetts. With a field of membership designation as a community credit union, Cranberry FCU is able to serve individuals who live, work, worship, or attend school in Plymouth County, as well as businesses and other legal entities within the defined community.

The credit union has a potential membership base of approximately 100,000 individuals within its service area. Membership is open to residents and workers throughout Plymouth County communities, including the Wareham area and surrounding towns.

Question 5

What services does Cranberry Federal Credit Union (Cranberry FCU) offer?

Accepted Answer

Cranberry Federal Credit Union provides a comprehensive suite of financial products and services, including:

Deposit Accounts: Share (savings) accounts with a minimum $5 opening deposit, checking accounts with no hidden fees or balance requirements, certificates of deposit, and retirement savings plans.

Lending Services: Auto loans with competitive rates and flexible terms including 100% financing, home mortgages and home equity loans, personal loans, and Visa credit cards with contactless technology, low interest rates, and rewards programs.

Digital Banking: Mobile banking app (available for iOS and Android) with account access, mobile check deposit, bill pay, biometric login, secure messaging, and ATM/branch locator. Online banking platform with account management, transfers, loan payments, e-statements, check imaging, and account alerts.

Additional Services: Free online bill pay with scheduled and recurring payment options, e-statements for secure document access, mobile and remote check deposit, notary public services (free for members), check reordering, UChoose Rewards program earning points on debit and credit card purchases, Credit Union Travel with exclusive hotel discounts and Hotel Dollars, and Gentreo estate planning services at discounted member rates.

The credit union's routing number for electronic transactions is 211381327.

Question 6

What makes Cranberry Federal Credit Union (Cranberry FCU) unique?

Accepted Answer

Member-Owned Cooperative Structure: As a not-for-profit credit union, Cranberry FCU returns value to members through competitive rates, lower fees, and enhanced services rather than maximizing profits for external shareholders.

Teacher Heritage and Educational Mission: Founded by teachers in 1962, the credit union maintains its commitment to education and financial literacy. The institution offers annual scholarships for community high school seniors and emphasizes member education and empowerment.

Enhanced Deposit Insurance: Beyond standard NCUA insurance coverage of up to $250,000 per depositor, Cranberry FCU provides additional insurance through MSIC (Massachusetts Share Insurance Corporation), offering members extra peace of mind for their deposits.

Community Focus: The credit union prioritizes reinvesting resources within the Plymouth County community, offering rates that are often more competitive than larger financial institutions while supporting local economic development.

Accessible Membership: With simple membership requirements (just a $5 initial deposit) and community charter serving all Plymouth County residents and workers, the credit union maintains an open and inclusive approach to membership.

Comprehensive Digital Tools: The credit union offers modern banking technology including a full-featured mobile app with biometric login, mobile check deposit, and secure messaging, bringing branch services directly to members wherever they are.

Question 7

What type of financial institution is Cranberry Federal Credit Union (Cranberry FCU)?

Accepted Answer

Cranberry Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). The credit union holds federal charter number 14850 and operates under federal credit union regulations.

As a community credit union, Cranberry FCU has a field of membership based on geographic boundaries rather than employment or associational ties. This means membership is available to anyone who lives, works, worships, or attends school in Plymouth County, Massachusetts, as well as immediate family members of existing members.

The cooperative ownership structure means that every member is an owner with voting rights in credit union governance. Members elect a volunteer board of directors from among the membership, and the credit union operates on the principle of "one member, one vote" regardless of account balance.

Cranberry FCU is member-insured by the NCUA, providing federal deposit insurance of up to $250,000 per individual depositor, backed by the full faith and credit of the United States government. Additional coverage is provided through MSIC for enhanced member protection.

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About Cranberry Federal Credit Union (Cranberry FCU) in the United States